How To Buy Bitcoin in New Jersey?

Buying Bitcoin in New Jersey just got easier thanks to clearer regulations around cryptocurrencies. In this guide, we will walk through the simple process of acquiring your first Bitcoin in the Garden State.

We’ll start with a brief overview of New Jersey’s crypto laws. Next, we’ll list several top cryptocurrency platforms and wallets that can be used to purchase Bitcoin in New Jersey conveniently and securely. By following the steps below, you’ll be on your way to becoming a Bitcoin owner!

Crypto Regulations in New Jersey

New Jersey has been proactive in introducing various bills and regulations concerning cryptocurrency and blockchain technology. Notable legislative developments include:

  1. Digital Asset and Blockchain Technology Act: Proposed by Democratic Assemblymember Herb Conaway, Jr., this act aims to classify digital assets sold to institutional investors as securities within New Jersey. It also mandates the state’s Department of Treasury to evaluate and sanction a digital payment platform for state-sanctioned businesses lacking access to conventional financial services.
  2. Virtual Currency and Blockchain Regulation Act: This legislation is designed to regulate digital currency enterprises operating within New Jersey.
  3. Digital Currencies Jobs Creation Act (AB 1906): This act sets up a regulatory structure for digital currency businesses in New Jersey, facilitating their operations.
  4. AB 3817: Focused on consumer protection, this bill requires digital currency businesses in New Jersey to undergo registration and adheres to specific regulations.
  5. Digital Asset and Blockchain Technology Act (S2462): Initiated in April 2018, this legislation allows corporations to employ blockchain technology for certain record-keeping purposes.

The regulatory landscape for cryptocurrency in New Jersey is continuously developing. The state is on the verge of adopting groundbreaking legislation that could significantly influence the regulatory environment for cryptocurrency-centric businesses. The Digital Asset and Blockchain Technology Act, a pioneering initiative in the state, could potentially offer tax benefits to virtual currency businesses relocating to New Jersey.

Easiest and cheapest ways to buy crypto in New Jersey

Regulated & high liquidity
How To Buy Bitcoin in New Jersey?

Crypto.com

👛 Ease of Use – Easy
👛 Fees – Medium
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, CAD, and 10+ more

Crypto.com, headquartered in Singapore, offers services like an app, exchange, wallet, and NFT marketplace. It supports over 250 cryptocurrencies, enabling users to transact in various digital assets.
More info +
Trusted & high liquidity
How To Buy Bitcoin in New Jersey?

Gemini

👛 Ease of Use – Easy
👛 Fees -Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD

Gemini Exchange, established in 2014 by the renowned investors and twins, Cameron and Tyler Winklevoss—who also happened to be Harvard peers of Mark Zuckerberg—is a prominent cryptocurrency exchange.
More info +
Regulated & high liquidity
coinbase

Coinbase

👛 Ease of Use – Easy
👛 Fees – Average
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – EUR, USD, and 50+ more

If we want to mention the biggest cryptocurrency exchanges in the world, Coinbase is most likely the first name that comes to our mind. Coinbase is a very powerful crypto platform, especially in the US.
More info +

Best Bitcoin Wallets in New Jersey

It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body, etc). That is why you should use one of the wallets we list below to store your digital assets.

But, which bitcoin wallet is available in this country?

The safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.

Bottom Line
Pros
Cons
ZenGo
ZenGo
Mobile
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Bottom Line
ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.
Pros
extremely safe as it uses biometrics for security
you can buy crypto directly from it
has savings and staking account
Cons
No major flaws
Exodus
Exodus
Desktop
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Bottom Line
Electrum is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux
Pros
One of the oldest wallets in the market
you can buy and stake directly from the wallet
supports all major coins and blockchains
Cons
Not completely open source
Ledger Nano X
Ledger Nano X
Hardware
Visit Now
Bottom Line
Ledger Nano X is a leading and most secure cold storage wallet that connects to your device via Bluetooth.
Pros
Safest wallet in the market
competitive price
supports a lot of coins
you can buy directly from the wallet
stake directly from the wallet
Cons
Small display
complicated to setup for newbies

Read also:

Regulated & high liquidity
uphold exchanges

Uphold

👛 Ease of Use – Easy
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, GBP, EUR + more

Uphold is a crypto exchange that has been in the game since 2015. The headquarters of the company is in NY, the US. It offers its users a multi-functional exchange of different assets, other than just buying and selling cryptocurrencies.
More info +
Regulated & high liquidity
How To Buy Bitcoin in New Jersey?

Kraken

👛 Ease of Use – Easy
👛 Fees – Average
👛 Verification – 2-3 Days
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, JPY, CAD

Kraken stands as a premier cryptocurrency exchange that has been serving the crypto community since 2011. With its platform, users can buy, sell, and trade over 220 different digital assets, including but not limited to Bitcoin, Ethereum, and Cardano. One of Kraken’s most notable features is its unwavering commitment to security, ensuring that users’ assets are protected.
More info +
Regulated & very safe
How To Buy Bitcoin in New Jersey?

Coinmama

👛 Ease of Use – Easy
👛 Fees – High
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, CAD, AUD

Coinamma is one of the oldest cryptocurrency exchanges since it was launched back in 2013. The headquarters of the company is in Slovakia and Ireland and its founders are Laurence Newman, Nimrod Gruber, and Ilan Schuster.
More info +
Established & high liquidity
Localbitcoins

LocalBitcoins

👛 Ease of Use – Easy
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, and more

LocalBitcoins is one of the oldest P2P online marketplaces where you can buy and sell Bitcoin. It is considered the largest peer-to-peer crypto platform. LocalBitcoins is based in Helsinki, Finland.
More info +

Frequently asked questions about buying Bitcoin in New Jersey

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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